CITIC Construction Investment: Zijin Mining's performance continues to hit new highs, and its subsidiary's spin-off listing sets multiple IPO records for mining companies

CITIC Construction Investment released a research report stating that benefiting from the simultaneous rise in gold and copper prices, in Q3 2025, Zijin Mining achieved operating revenue of 86.49 billion yuan, a year-on-year increase of 8.1%; and a net profit attributable to shareholders of 14.57 billion yuan, a year-on-year increase of 57.1% and a quarter-on-quarter increase of 11.0%. Among them, the production of mineral gold was significantly released, exceeding the annual planned target schedule; affected by the flooding incident at the KK copper mine in the Democratic Republic of the Congo, the mineral copper production decreased quarter-on-quarter in Q3, and the company is actively promoting the resumption of production in the eastern section of the Kakula mine. The report mentioned that on September 30, Zijin Gold International successfully listed on the Hong Kong Stock Exchange, setting multiple IPO records for mining companies. As the controlling shareholder of Zijin Gold International, the company not only shares the substantial returns brought by future rapid growth but is also expected to enhance its overall market value through value re-evaluation. Zijin Gold International Limited has fulfilled or waived all the closing conditions stipulated in the agreement for acquiring 100% equity of the Raygorodok gold mine in Kazakhstan through its wholly-owned subsidiary, and this acquisition was completed on October 10, 2025. Zijin Gold International now holds 100% equity of the Raygorodok gold mine